SIA X Infotech Group acquired by Silverlake Axis
Silverlake Axis announced today the completion of the acquisition of SIA X Infotech Group. X Infotech is a global provider of software solutions for identity documents and payment smart cards. Silverlake Axis now owns eighty percent of the equity interest in SIA X Infotech Group.
According to the announcement, this acquisition brings together complementary product portfolios, business strategies and expanded geographical presence to allow both entities to better support existing customer bases and pursue new customers. Silverlake Axis provides digital economy solutions and services to organizations in the banking, insurance, payments, retail and logistics industries.
“Digital identity and security technologies are natural additions to our capabilities to accelerate digital enterprise transformation in areas such as customer onboarding, customer engagement, payments, fraud prevention and cyber security,” commented Dr. Raymond Kwong, Group Managing Director for Silverlake Axis. “In adding X Infotech to the Group, our customers will benefit from a larger portfolio of solutions to modernize traditional identity, security and access management.”
“This cooperation will definitely reveal new inspiring business opportunities and markets for us, as well as strengthen our collaboration with existing customers and partners, to whom we are now and always will remain truly loyal and dedicated,” added Vadims Teresko, Business Development Director of X Infotech.
The Board of Directors of Silverlake Axis has appointed Mr. Jonas Lind, concurrently CEO of Silverlake Symmetri, as the new CEO of SIA X Infotech.
“X Infotech is well advanced in its transition from a historical, document personalization software business, to an identity and digital security business for government and financial institutions,” Lind said. “Their experience of deploying nationwide trusted national identity solutions, coupled with cutting edge eKYC solutions for financial institutions, will bring a critical component and tremendous value to Silverlake’s technology coverage.”